Preheat the oven to 350°F (175°C)
Grease and flour a Bundt pan thoroughly
In a bowl, whisk together flour, baking powder, baking soda, and salt
In a separate bowl, cream butter and sugar until light and fluffy
Add eggs one at a time, mixing well after each addition
Mix in vanilla extract
Add dry ingredients and milk or buttermilk alternately, mixing until just combined
Pour the batter into the prepared Bundt pan
Smooth the top evenly
Bake until a toothpick inserted in the center comes out clean
Let the cake cool in the pan for 10 to 15 minutes
Invert the cake onto a wire rack to cool completely
Dust with powdered sugar or add glaze if desired