Dreamy Red Velvet Bundt Cake with Cream Cheese Frosting

Cake ingredients:
1 cup unsalted butter (softened)
2 eggs
1 1/2 white sugar
2 tablespoons cocoa powder
2 ounces red food coloring
2 1/2 cups of white flour
1 teaspoon salt
1 cup buttermilk
1 teaspoon vanilla extract
1 teaspoon baking soda
1 teaspoon vinegar

Frosting ingredients
1/4 cup unsalted butter (softened)
1/4 soft cream cheese 1/2 cup milk
1 teaspoon vanilla
3/4 cup powdered sugar
1 tablespoon rum or bourbon (if desired)
1/2 cup chopped pecans or walnuts (if desired)

Preheat oven to 350 degrees F and grease a Bundt pan. In a large mixing bowl, cream together butter, sugar, vanilla and eggs well (use an electric mixer/stand mixer). In a small bowl, combine food coloring and cocoa. Add cocoa mixture to butter mixture and mix well. Separately add the buttermilk and flour to the butter mixture in small batches, mixing well after each addition. Gently fold in the baking soda and vinegar. Pour batter into greased Bundt pan. Bake for 45 minutes or until toothpick comes out clean. Let cake cool for 20-30 minutes and then invert onto a cake platter. To prepare frosting: Mix butter, cream cheese and sugar well. Then add milk and remaining ingredients (except nuts if using). Pour frosting over Bundt cake and top with nuts if desired.