Gather all your ingredients and ensure the cream cheese is at room temperature for easy mixing.
In a mixing bowl, pour in the heavy whipping cream. Using a hand mixer or stand mixer, whip the cream on medium speed until soft peaks form. This should take about 2-3 minutes.
In another bowl, beat the room temperature cream cheese until smooth. Gradually add the whipped cream to the cream cheese, folding gently with a spatula to combine the two mixtures without deflating the whipped cream.
Sift in the powdered sugar, and add the lemon juice or vanilla extract along with a pinch of salt. Gently fold the mixture until everything is well incorporated and smooth.
Taste your whipped cream and adjust the sweetness or flavor as desired. If you want it sweeter, add a bit more powdered sugar.
Use immediately on your favorite desserts, or transfer to an airtight container and refrigerate for later use. This whipped cream can be stored in the fridge for up to 3 days.