Cream the butter and sugar until it looks pale and fluffy, about 2 minutes with a hand mixer on medium. Scrape the bowl, add the egg, vanilla, and almond extract. Mix until smooth and glossy.

In a separate bowl, whisk the flour, baking powder, and salt. Add this dry mix to the wet mixture in two additions, mixing slowly and stopping when the flour disappears. The dough should be soft but not sticky.

Divide the dough into two equal discs, wrap each tightly, and chill for at least 1 hour.

Preheat the oven to 350°F. Line baking sheets with parchment. Lightly flour your work surface and roll one disc at a time to about 1/4 inch thick.

Dust your cookie cutters with flour and cut shapes. Reroll scraps if necessary. Chill the cut cookies for 10 minutes before baking if the dough has warmed up.

Bake for 8 to 10 minutes until the edges look set but not browned. Cool on the sheet for 5 minutes before transferring to a rack to cool completely.

Outline and flood the cookies with icing while still wet. Add sprinkles for decoration; let one color dry before applying another if you want detailed decorations.