Preheat and prep. Set your oven to 350°F (175°C) and line a mini muffin tin with paper liners. If your mini muffin tin doesn't have a non-stick coating, give the liners a quick spritz of cooking spray.
Mix the dry team. In a medium bowl, whisk together the flour, baking soda, baking powder, salt, cinnamon, nutmeg, and ginger until well combined. This ensures your spices are evenly distributed throughout the batter.
Combine the wet squad. In a separate larger bowl, whisk the oil and sugar together until well combined. Add the egg and vanilla, and beat until the mixture is lighter in color and slightly fluffy, about 1-2 minutes.
Unite wet and dry. Gently fold the dry ingredients into the wet mixture, stirring just until no streaks of flour remain. Overmixing will make your cupcakes tough, and nobody wants that tragedy.
Add the star ingredients. Fold in the grated carrots, and if using, the nuts, raisins, and coconut. The batter will be relatively thick but still spoonable.
Fill 'em up. Spoon the batter into the prepared mini muffin cups, filling each about 2/3 full. These little guys will rise, so don't overfill.
Bake to perfection. Place in the preheated oven and bake for 12-15 minutes, or until a toothpick inserted into the center comes out clean or with just a few moist crumbs.
Cool down period. Allow the cupcakes to cool in the pan for 5 minutes, then transfer to a wire rack to cool completely before frosting. Patience is a virtue here—frosting warm cupcakes is a melty disaster.
Make the frosting. While the cupcakes cool, beat the cream cheese and butter together until smooth and creamy. Gradually add the powdered sugar, vanilla, and salt, beating until the frosting is light and fluffy. If it's too thick, add a teaspoon of milk; if too thin, add a bit more powdered sugar.
Frost those babies. Once the cupcakes are completely cool, top each with a swirl of cream cheese frosting. You can use a piping bag with a decorative tip for a fancy finish, or simply spread the frosting with a small knife or offset spatula for a more rustic look.
Garnish (optional). Sprinkle with chopped nuts, add tiny carrot decorations, or finish with a dash of cinnamon for extra pizzazz.