Mix dry ingredients: In a large bowl, whisk flour, sugar, baking powder, baking soda, salt, nutmeg, and cinnamon until evenly combined.

Combine wet ingredients: In a separate bowl, whisk eggs, milk, yogurt (or sour cream), melted butter, and vanilla until smooth.

Bring the dough together: Pour wet into dry and stir with a spatula until no dry streaks remain. The dough will be soft, slightly tacky, and easy to handle with floured hands.

Rest the dough: Cover and let it sit for 10–15 minutes. This helps the flour hydrate and makes rolling easier.

Prepare your surface: Lightly flour your counter and rolling pin. Turn out the dough and gently pat or roll to about 1/2 inch (1.25 cm) thick.

Cut the donuts: Use a 3-inch cutter for the rings and a small cutter (or bottle cap) for the holes. Gather scraps, re-roll once, and cut again.

Heat the oil: Pour 2 inches of oil into a heavy pot and heat to 350–360°F (175–182°C). Use a thermometer for steady results.

Fry in batches: Carefully lower 2–3 donuts into the oil. Fry 45–60 seconds per side, turning once, until deep golden. Donut holes cook faster—about 30–45 seconds total.

Drain: Transfer to a wire rack set over a sheet pan. Let excess oil drip off.

Finish with your choice: While warm, toss in cinnamon sugar or dip in glaze. For glaze, whisk powdered sugar, milk, vanilla, and a pinch of salt until smooth, then dip tops and let set on the rack.

Serve: Enjoy warm within the hour for the softest texture.