In a large bowl or stand mixer beat butter until it is smooth. Add the sugar and beat for about 2 minutes. Add the egg, vanilla and almond extract; mixed until well combined.
In a seperate bowl, whisk together the flour, baking powder and salt. Carefully add the flour to the butter and sugar mixture, a little at a time. Continue mixing until the dough begins to form.
Form the dough into a ball in plastic wrap. Chill in refrigerator for 2 hours.
Preheat oven to 350 degrees and line baking sheet with parchment paper.
Roll out dough on a floured surface and cut with cookie cutters.
Bake for 9-11 minutes. Remove from oven and transfer to cooling rack.
Once the cookies have cooled decorate with frosting and sprinkles
For the Frosting:
In a large bowl or stand mixer, beat together the butter and cream cheese. Slowly add the powdered sugar until smooth. Mix in vanilla until well combined.