Creating the New Year Red Velvet Cheesecake is straightforward if you follow these simple steps:

1. Preheat Oven: Preheat your oven to 325°F (160°C). Grease a 9-inch springform pan with butter or cooking spray.

2. Make the Crust: In a medium bowl, combine the crushed graham crackers and melted butter. Stir until evenly coated. Press the mixture firmly into the bottom of the prepared pan to form a crust.

3. Prepare the Filling: In a large mixing bowl, beat the cream cheese with granulated sugar until smooth and creamy. Ensure there are no lumps.

4. Add Eggs: Add eggs, one at a time, mixing well after each addition. Incorporate vanilla extract, red food coloring, and sour cream. Mix until well combined.

5. Incorporate Dry Ingredients: Gently fold in baking powder and salt. Be careful not to overmix.

6. Pour into Pan: Pour the cheesecake filling onto the prepared crust. Smooth the top with a spatula.

7. Bake: Place the cheesecake into the preheated oven. Bake for 60-70 minutes until the edges are set and the center is slightly jiggly.

8. Cool: Once done, turn off the oven and allow the cheesecake to cool in the oven with the door slightly ajar for about an hour. Then, remove it and chill in the refrigerator for at least 4 hours or overnight.

9. Make the Whipped Topping: In a mixing bowl, whip the heavy cream and powdered sugar until soft peaks form.

10. Assemble: Once the cheesecake is fully chilled, spread the whipped topping on top. Add chocolate shavings or red velvet crumbs for garnish.