Hi all , new member from S. Florida

Hi there, had been lurking around here for a few months and decided its time to join.
I purchased a 2008 Tacoma Pre runner double cab, 2W, long bed V6 used back in Dec 2014 . First truck ever, though I have knowledge of cars from my youth I know very little about trucks but am getting more knowledgeable with time and this site. That said I need some help as I'm a little lost with some of my reading here. I posted pics below. I don't think my truck is lifted, it has the tire/wheel combo it came with used. I have had no problems out the ordinary (Brake pad/rotor change, 1 wheel bearing, tune up etc.)
Thing is I have read about maximum wheel/tire combos for stock configurations on this site extensively and lift mods for larger tires. This truck came with 20in American Racing Wheels and Falken Ziex ST05 measuring 295/45/R20's. Is this possible without a lift? No rub problems whatsoever and mud flaps to boot yet it really doesn't look high to my newbie eyes.
Any input would be appreciated. BTW, only mods made by me were to black out the chrome bumper ,grille ,lettering and the nerf bar and hitch step.