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That's what I've done and it works fine. If there aren't too many tags, you can create a Pop-Up List column, and store all your tags there. So you don't have to remember them. The list will pop up in the column, and you choose the tag from the list.

One interesting thing I've discovered is that if the tag is in a column, then the Search Results in the sidebar will show the Top Level Item for that found item.

But if the tag is in the same column as the text of the actual item, the Search Results will also show some of the selected text. This makes the Search Results more informative and easier to use.