In a large bowl, beat 2 cups softened butter with a electric mixer/hand mixer until light and fluffy. Add sugar, baking powder, baking soda, salt, cinnamon, and nutmeg; beat until combined. Scrape sides of bowl occasionally. Add eggs and vanilla, and pumpkin puree. Beat until combined. Add the flour slowly while mixing.
Fill in muffin pan* with cupcake liners. Spoon the batter into each one.
Bake in the preheated oven for 20-25 minutes or until tops are set. Check with a fork or toothpick. Let cupcakes cool.
Garnish with whipped cream and sprinkle cinnamon on top of each cupcake.