Preheat the oven to 350°F/180°C and line 2 muffin tins with paper liners. In a medium sized mixing bowl, mix together flour, baking soda, baking powder, and salt.
In another mixing bowl beat together the butter with the sugar until light and fluffy. Beat in eggs, one at a time. Mix in vanilla extract.
To make the frosting, beat softened butter using a hand mixer until light and creamy. Add powdered sugar, milk, vanilla, and food coloring if desired. Frost the cupcakes and chill.