Preheat your oven to 350°F (175°C). Line a loaf pan with parchment paper.

In a medium bowl, whisk together flour, baking soda, baking powder, cinnamon, and salt.

In a large bowl, combine granulated sugar and vegetable oil. Beat until smooth and slightly frothy.

Mix in grated carrots and eggs one at a time until fully incorporated.

Gradually add the dry mixture to the wet ingredients until just combined.

Fold in optional walnuts or pecans, raisins, or coconut if desired.

Pour the batter into the prepared pan and bake for 40-50 minutes until a skewer comes out clean.

Cool in the pan for 15 minutes before transferring to a wire rack.

Beat cream cheese and butter in a bowl until smooth, then add icing sugar and vanilla until fluffy.

Frost the cooled loaf and allow to set slightly before slicing and serving.