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CUPCAKES: Preheat oven to 350 degrees Fahrenheit.
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Gently beat together the oil, buttermilk, eggs, food coloring, vinegar, and vanilla.
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In a medium bowl, sift together the flour, sugar, baking soda, salt, and cocoa powder.
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Add the dry ingredients to the wet mixture and combine well until smooth.
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Line a muffin tin with cupcake papers and fill each one about 2/3 full with batter.
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Bake in oven for 18-20 minutes – test with a toothpick for doneness.
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Remove from oven and cool completely before frosting.
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FROSTING: Mix cream cheese, butter, and vanilla together until smooth.
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Add the powdered sugar in small increments, on low speed and beat until incorporated – increase the speed to high and mix until light and fluffy.
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Frost cupcakes with a knife of pastry bag.