Preheat oven to 350 degrees F.
In the bowl of an electric mixer, cream butter and sugar until light and fluffy.
Add eggs, one at a time until well mixed, then add extracts.
Combine all dry ingredients in a separate bowl and whisk until combined.
Add to butter mixture then alternately add milk and orange juice beating well with each addition.
Pour into paper-lined muffin tins about 2/3 full.
Bake for 20-25 minutes until a toothpick comes out clean. Cool completely before frosting.
To make the frosting:
Whip cream cheese and butter in a large mixing bowl on medium speed until smooth.
Scrape down the bowl, then slowly add confectioners' sugar, stopping to scrap down the bowl several times.
Add orange juice, vanilla, and zest and mix on medium speed until frosting is smooth and fluffy.
Using your favorite decorating tip, pipe the frosting onto cupcakes and enjoy. Refrigerate frosted cupcakes if not eating right away.