Preheat the oven to 350 degrees. Butter two 10″ round cake pans and flour the insides.

In a large bowl combine the flour, baking powder, baking soda, cinnamon, nutmeg, and salt. In a medium bowl combine the carrots, nuts, coconut, and raisins.

In the bowl of a stand mixer beat the sugar, butter, and oil together on medium speed. Add the eggs one at a time and continue to beat until the batter is smooth. Mix in the vanilla.

Reduce to mixed speed to low and add in the flour mixture, mixing until just combined. Remove the bowl from the bowl and fold in the carrots, nuts, coconut, and raisins.

Bake for 45-55 minutes or until a toothpick inserted into the middle comes out clean. Place on a cooling rack and let cool for 5 minutes. Run a knife around the sides of the cakes and remove them from the pans.

Invert the cakes and remove them from the pans. Invert and cool to room temperature.

To make the frosting combine the cream cheese and butter together in the bowl of a stand mixer. Beat until smooth. Gradually add the sugar and beat until the frosting is smooth. Beat in the vanilla.

To assemble the cake put one layer on a cardboard cake round. Spread frosting on top of the cake then place the second layer on top. Frost the sides and the top of the cake with the remaining frosting. Top with chopped nuts or coconut if desired.