Preheat your oven to 350°F (175°C). Grease and line two round cake pans with parchment paper.

In a bowl, sift together the flour, cocoa powder, baking soda, and salt.

In another bowl, whisk together sugar and oil until combined. Add eggs one at a time, followed by buttermilk, vanilla extract, and red food coloring; mix until smooth.

Gradually combine dry ingredients with wet ingredients until just mixed.

Divide batter evenly between prepared pans and bake for 25-30 minutes or until a toothpick comes out clean.

Once cooled, prepare cream cheese frosting by blending softened cream cheese with powdered sugar and vanilla until creamy. Frost the layers generously.