In a medium bowl, whisk together the flour, baking powder, and salt.

In the bowl of a stand mixer fitted with the paddle attachment, cream the butter and sugar until light and fluffy. Add the egg and mix to combine, then mix in the vanilla and almond extracts.

Gradually add the dry ingredients, mixing on low speed until combined. The dough will be soft.

Divide the dough in half. Form each half into a ball, then flatten into a 1-inch-thick disk. Wrap tightly in plastic wrap and refrigerate for at least 2 hours and up to 2 days.

Preheat the oven to 350°F and line two large baking sheets with parchment paper.

Roll out the dough on a lightly floured surface until about ¼-inch thick. Use cookie cutters to cut out desired shapes, then transfer the cut-outs to the prepared baking sheets.

Bake, one sheet at a time, for 9 to 11 minutes, or until the edges of the cookies are just beginning to turn golden brown. Let cool on the baking sheets for 2 minutes before transferring to a wire rack to cool completely.

Once cool, decorate as desired.