Prepare the Cupcakes:

• Preheat the oven to 350°F (175°C) and line a 12-cup muffin tin with paper liners.

• Mix dry ingredients: In a medium bowl, whisk together the flour, baking powder, baking soda, cinnamon, nutmeg, and salt.

• Combine wet ingredients: In a large bowl, beat the eggs and sugar until smooth. Add the oil and vanilla extract, mixing until well combined.

• Incorporate dry ingredients: Gradually add the dry ingredients to the wet mixture, stirring until just combined.

• Add carrots and walnuts: Fold in the grated carrots and chopped walnuts, ensuring even distribution.

• Fill muffin tin: Divide the batter evenly among the muffin cups, filling each about two-thirds full.

• Bake: Bake for 20-25 minutes, or until a toothpick inserted into the center comes out clean.

• Cool: Cool in the tin for 5 minutes, then transfer to a wire rack to cool completely.

Prepare the Cream Cheese Frosting:

• Beat cream cheese and butter: In a medium bowl, beat the softened cream cheese and butter together until smooth and creamy.

• Add powdered sugar: Gradually add the powdered sugar, beating until the frosting is light and fluffy.

• Mix in vanilla: Add the vanilla extract and beat until fully incorporated.

Assemble the Cupcakes:

• Frost the cupcakes: Once the cupcakes have cooled completely, spread or pipe the cream cheese frosting onto each cupcake.

• Garnish: Garnish with additional chopped walnuts or a sprinkle of cinnamon, if desired.