In a mixing bowl with paddle attachment, beat cream cheese and butter on medium high speed until fluffy, about 1 minute.
Add powdered sugar and beat on low speed for a minute. Then increase the speed to medium high and continue to beat until smooth and fluffy, about 3 minutes.
Stir in vanilla extract and salt. Whip again until incorporated, 30 seconds.
Yields: about 2.5 cups of frosting, enough frosting for 12 cupcakes.Make-Ahead Tip: Keep cream cheese frosting in an airtight container in the fridge for up to 3 days, or freeze for up to 3 months. Re-whip before using. To thaw frozen frosting, transfer into the fridge and thaw it overnight.