Combine butter and sugar in standing mixer or mixing bowl, and beat until they're creamy, light, and well-combined.
Add in egg and vanilla (and almond) extract until well-combined.
Combine dry ingredients in a separate bowl.
Mix dry ingredients into the wet mixture and combine.
Divide dough into two balls and wrap with plastic wrap.
Chill for two hours or longer. You can also freeze dough if desired.
After dough has chilled, preheat oven to 350 degrees. Line two baking sheets with parchment paper or grease baking pans.
Line two baking sheets with parchment paper or grease baking pans.
Generously dust a clean surface with flour and deposit one chilled cookie dough ball onto the surface.
Lightly flour the dough and roll out to 1/8 inch (for thinner, crispier cookies) or 1/4 inch (for thicker, softer cookies). Continue to add flour as needed both on top of and beneath the dough so that it does not stick.
Use cookie cutters to cut out shapes and use a spatula to transfer shapes to prepared baking sheet.
Bake at 350 degrees F for 9-10 minutes, or until edges just begin to turn lightly golden brown.
Sprinkle with powdered sugar and serve as-is, or wait until cool to frost.