In a large mixing bowl or stand mixer, combine the softened butter and cream cheese.
Beat until the mixture is smooth, creamy, and completely lump-free.
Add the vanilla extract and salt. Mix until fully incorporated.
With the mixer running on low speed, gradually add the powdered sugar.
Continue mixing until the frosting is smooth, fluffy, and well combined.
Scrape down the sides of the bowl as needed.
Use this Cream Cheese Frosting Recipe immediately to frost completely cooled cakes, cupcakes, or cookies.