In a large mixing bowl, cream the butter until smooth and fluffy, approximately one minute. Gradually add the sugar, beating for an additional two minutes until the mixture is light and airy. Incorporate the egg, vanilla extract, and almond extract, blending thoroughly.

In a separate medium bowl, whisk together the flour, baking powder, and salt. Gradually add this dry mixture to the creamed butter mixture, blending on a low speed until the dough forms a cohesive ball. Wrap the dough and refrigerate for at least one hour or leave it chilled overnight for best results.

Preheat the oven to 350°F (175°C). Line a baking sheet with parchment paper. Roll the chilled dough to a thickness of approximately 1/4 inch and use cookie cutters to shape the dough as desired. Place the cutouts on the prepared baking sheet.

Bake for 8 to 11 minutes, or until the edges are just set. For softer cookies, opt for the lower baking time. Allow the cookies to cool completely on a wire rack before applying frosting.

Cream Cheese Frosting Preparation

In a large bowl, beat the cream cheese and butter together until smooth and lump-free. Gradually add powdered sugar, followed by vanilla extract, continuing to beat until the frosting is silky and thick. Apply the frosting to the cooled cookies, adding food coloring to the frosting as desired for a vibrant touch.