What tire size do you "need" for the terrain you intend? If you need tires 2, 3, 4,5" taller than stock for the terrain, then that defines the lift you need -- and often implicates a variety of other modifications including regearing your axles. If you can get by without a large lift, you can eschew the gearing and avoid the major issues with an IFS or fully independent suspension system.
In my case, my '93 came with tires consistent with that era, about 30" diameter. I lifted my Trooper 1.5", only to enable a little more articulation for the 31.5's I run and since it's an "overlander suv" with IFS, rather than an "overlander 4x4" (like a Gladiator on 37's with an RTT), I don't need more lift --And-- I don't need to regear, do a diff-drop in the front, or upgrade to big brakes (big rubber is big rotating weight).
Depending what you plan to do, and with what level of other vehicles, your Tacoma can pretty much do it all: you just have to plan it out.