Add your butter to the bowl of a stand mixer with a paddle attachment or a whisk attachment. Beat the butter for 3 to 5 minutes, scraping down the sides from time to time, until the butter is light yellow, fluffy, and creamy. Don't skimp on this step! It's the key to fluffy buttercream frosting.
Add the powdered sugar, cocoa powder, heavy cream or milk, salt, and vanilla.
Beat all of the ingredients together on low for about 1 minute. Then increase the speed to high speed and beat together for about 1 to 2 minutes, just until all of the cocoa powder and powdered sugar are evenly incorporated into the frosting.
Notes
Makes approximately 3 cups worth, enough to frost 12 cupcakes or one 8" two-layer cake. Approximately 12-15 servings. Key tips:
Butter must be at room temperature before using. Take the butter out of the refrigerator and allow it to sit on the counter for about 30 minutes, until it is soft enough to leave an imprint when you gently place a finger into it.
You need to beat the butter until it's light yellow and creamy, which can take anywhere from 3 to 6 minutes, depending on your mixer. The key to fluffy buttercream is beating the butter until it's creamy.
It's important to add the remaining ingredients and beat on low first, for 30 seconds to 1 minute. Otherwise, the powdered sugar and cocoa powder may fly out of the bowl. Once the ingredients have started to incorporate after 30 seconds to 1 minute, then you can increase the speed to medium or high and beat just until it's well incorporated and you no longer see chunks of cocoa powder, butter, or powdered sugar.
Storage: store in an airtight container in the refrigerator for up to two weeks, or in the freezer for up to one month.