Will this bolt straight to my existing suspension?

Yes. This arm mounts at the factory attachment points on your frame and steering knuckle — no drilling, bending, or custom brackets needed. Bolt it on and you're done.

Do I need new ball joints or bushings when I install this?

Check your current ball joints and bushings before you install. If they're worn, replace them while you have the arm off — it's the right time to do it. This arm itself comes ready to install.

Why would I need two of these?

This is a single arm (passenger side). Your Tacoma has one on each side of the front axle. Buy two if you're replacing both, or order just one if you're only fixing the damaged side.