In the bowl of a stand mixer, cream together the Butter (8 tablespoon) and Granulated Sugar (1 cup). Add in the Egg (1) and Vanilla Extract (1 teaspoon) and blend until smooth.
Add the Buttermilk (3/4 cup) and Red Food Coloring (2 tablespoon). Blend again.
Mix the All-Purpose Flour (1 1/2 cup), Unsweetened Cocoa Powder (2 tablespoon), Baking Soda (1/2 teaspoon), Baking Powder (1/2 teaspoon), and Salt (1/4 teaspoon). Lower the speed of the mixer and add the dry to the wet. Mix thoroughly.
Pour the batter 2/3 up the cup of each muffin tin. Bake for 18 minutes at 350 degrees F (180 degrees C).
To make the frosting, take the Cream Cheese (4 ounce), Vanilla Extract (1/2 teaspoon) and Butter (2 tablespoon) and mix together until nice and soft. With the stand mixer running, add in the Powdered Confectioners Sugar (2 cup)
Let the cupcakes cool before frosting them.