My recommendation: DON'T DO IT.
🙂
First, I'd evaluate if you really need color--I print recipes, too, but don't so much care if the ad or picture of the dish is in grayscale. I say this because I recommend a laser printer, and monochrome lasers are significantly cheaper. I know you said color, but since all your photos are done professionally...
(By the way, you might be able to print color documents locally at a reasonable price, too, by the way--it just might not be as convenient.)
If that's not an option, others have suggested color lasers. I can vouch for the Dell 3100cn, which I've used at work and hasn't been too much trouble; at home I just have a Brother DCP-7065DN (and formerly an HL-2140, which is absurdly inexpensive--but I wanted duplexing, networking, and scanning), which is black-and-white only. You needs may vary.
In short, I urge you to reconsider the "inkjet" part, which may or may not also warrant reconsideration of the "color" part. Good luck, whatever you decide!
Also note: if a printer has even an Ethernet connection, it can be effectively wireless if you connect it to your existing wireless network (e.g., via port on wireless router/switch). Even a USB printer can be wireless if you have a router like the AirPort Extreme Base Station with a USB port that supports print serving. I've been warned about flakiness of printers with built-in wireless, but your experience may vary. Just be aware that the printer itself doesn't necessarily need to support it for "wireless" printing to work.
EDIT (again): I notice that the
SAMSUNG CLP-325Wr is on sale at NewEgg today for about $126--just sayin'.
🙂