Backspacing is the distance from the mounting flange of the wheel to the inner edge of the wheel. Less backspacing means it'll be pushed out more. In the pic below, the wheel on the left has more BSing so it's sucked in more. The one on the right has less BSing so it's pushed out farther. Don't look at the pic as if it's a passenger and a driver side wheel, but look at both as the passenger side wheel if you're looking at it from the front.
Your stock BSing is 4 5/8" so with the 1 1/4" Spidertrax you'll have an effective BS of 3 3/8".
Wheel spacers put more leverage on everything down there so there's that. Your tires may rub too, especially on the firewall because spacers will increase the arc in your steering. That said, I run 1" spacers up front and haven't had any issues in the 3 years since I got them.
EDIT: Damn ninja'd by Gerdo, haha.
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2021 Tacoma 4x4 TRD Off Road Double Cab Short Bed (my DD)
2017 4Runner 4x4 Limited (the wife’s)