Preheat oven to 350°F (175°C). Line a muffin tin with paper liners.
In a large bowl, cream together the butter and sugar until light and fluffy.
Beat in the eggs one at a time, then stir in the vanilla.
In a separate bowl, whisk together the flour, baking powder, baking soda, and salt.
Gradually add the dry ingredients to the wet ingredients, alternating with the milk, beginning and ending with the dry ingredients. Mix until just combined.
Fill the lined muffin cups about 2/3 full.
Bake for 18-20 minutes, or until a toothpick inserted into the center comes out clean.
Let the cupcakes cool in the tin for a few minutes before transferring them to a wire rack to cool completely.
Decorate as desired.
Notes
For a more intense red, use red food coloring gel instead of liquid.