Creating the perfect Red Velvet Cake is easy when you follow these straightforward steps:

1. Preheat Oven: Preheat your oven to 350°F (175°C). Grease and flour two 9-inch round cake pans.

2. Mix Dry Ingredients: In a large bowl, whisk together the flour, sugar, baking soda, salt, and cocoa powder until well combined.

3. Combine Wet Ingredients: In another bowl, blend the vegetable oil, buttermilk, eggs, food coloring, vanilla extract, and vinegar until smooth.

4. Combine Potions: Gradually add the wet mixture to the dry ingredients, stirring just until combined. Be careful not to overmix.

5. Divide Batter: Pour the batter evenly into the prepared cake pans.

6. Bake: Place the pans in the oven and bake for 30-35 minutes or until a toothpick inserted in the center comes out clean.

7. Cool: Remove cakes from the oven and let them cool in the pans for 20 minutes before transferring to wire racks to cool completely.

8. Prepare Frosting: While the cakes cool, beat together the cream cheese and butter in a mixing bowl until creamy. Gradually add the powdered sugar and vanilla, mixing until smooth and fluffy.

9. Assemble Cake: Once the cakes have completely cooled, place one layer on a serving platter. Spread a generous layer of frosting on top.

10. Add Second Layer: Place the second cake layer on top and frost the top and sides as desired.

11. Decorate: For a finishing touch, you may garnish with sprinkles or a dusting of cocoa powder if desired.