Preheat oven to 375 degrees.
Thoroughly grease donut pan.
Stir flour, sugar, baking powder, nutmeg and salt together, then sift. Or measure flour by spooning and leveling in measuring cup, then whisk together dry ingredients.
Stir in buttermilk, eggs, oil and vanilla. Beat until combined.
Fill each donut well ¾ full.
Bake for 10-12 minutes, or until the donut begins to brown on the edges.
Immediately invert on to cooling rack and let cool for 5-10 minutes.
Create desired donut topping.
If coating in cinnamon and sugar, immediately toss them in the mixture upon taking them out of the oven.
If adding icing, allow the donuts to cool then dip the top of the donut in the icing and top with sprinkles or other candies.