1/2cupbuttersoftened. If you're using unsalted add in 1/4 teaspoon salt
1teaspoonpure vanilla extract
Melt the milk chocolate chips in a microwave-safe bowl for 30 seconds. Stir the chocolate with a spoon and place it back in the microwave for another 15 seconds if needed, stirring in between, until the chocolate is completely melted and smooth. Be careful not to overdo it, as the chocolate will burn.
Using a hand mixer or stand mixer, place cream cheese and butter into a large bowl and mix on medium speed until there are no more lumps and the mixture is creamy. Add the remaining ingredients in intervals mixing in between each addition. (Melted chocolate, powdered sugar, cocoa powder, and vanilla)
Use right away or refrigerate until ready to use (using within 1 week).