Step 1

Adjust oven rack to middle position; heat oven to 350 degrees F. Line 12 muffin/cupcake tins with paper or foil liners.

Step 2

Whisk together flour, sugar, baking powder, and salt in bowl of standing mixer fitted with paddle attachment. Add butter, buttermilk (or sour cream), eggs, and vanilla; beat at medium speed until smooth and satiny, about 30 seconds. Scrape down sides of bowl with rubber spatula and mix by hand until smooth and no flour pockets remain.

Step 3

Divide batter evenly among cups of prepared tin. Bake until cupcake tops are pale gold and toothpick or skewer inserted into center comes out clean, 20 to 24 minutes. Remove the cupcakes from tin and transfer to wire rack; cool cupcakes to room temperature before frosting.

Step 4

For buttercream, place butter and cream cheese in the bowl of an electric mixer and beat on medium-high speed for 3 minutes, stopping to scrape the bowl once or twice.

Step 5

Reduce the speed to low and add the pink lemonade concentrate, vanilla and powdered sugar. Beat on lowest speed until all of the powdered sugar is incorporated, then increase to medium-high and beat until light and fluffy, about 3-4 more minutes, scraping the bowl as needed. If the icing is too thick add a bit of milk or half and half, if too thin add a bit more powdered sugar (see note below).