In a large mixing bowl, whisk together the milk, egg, olive oil (or coconut oil), sugar, and salt until well combined.
In another bowl, mix the baking powder and all-purpose flour. Gradually add the dry mixture into the wet ingredients, stirring until you form a soft dough. Be careful not to overmix.
On a floured surface, roll out the dough to about 1/2 inch thickness. Use a donut cutter to cut out your donuts, making sure to create holes in the center.
In a frying pan or deep fryer, heat oil over medium heat. Test the oil by dropping a small piece of dough into it; if it sizzles, it’s ready!
Carefully place the donuts in the hot oil, frying them a few at a time for about 1-2 minutes on each side until golden brown. Use a slotted spoon to transfer to a cooling rack.
In a small saucepan, combine confectioners sugar and 2 tablespoons of milk. Heat over low heat, stirring until smooth.
Once the donuts are slightly cooled, dip the tops into the glaze, letting the excess drip off. Place them back on the cooling rack to let the glaze set.
