Preheat oven to 350°F. Line 16 cups of a standard size muffin-cupcake pan with cupcake liners.
Cupcakes: In a medium size mixing bowl, use a whisk to sift together flour, sugar, cocoa, baking powder, baking soda and salt.
In a separate bowl, whisk together buttermilk, oil, food coloring, vanilla and eggs.
Add wet ingredients to the dry ingredients, beating by hand or with an electric mixer until fully combined.
Divide batter between muffins cups. Bake for 20-25 minutes or until a toothpick inserted into the center comes back clean. Cool completely on a cooling rack.
Cream Cheese Frosting: In a medium size mixing bowl, use an electric mixer to cream together cream cheese, butter and vanilla. Lower speed of mixer and gradually add powdered sugar. Continue to whip until fully blended.