In a large bowl, cream the butter and sugar together; beating until fluffy. Beat in the egg until smooth, then add the vanilla and almond extracts.
In a separate bowl, whisk together the dry ingredients, then add the butter mixture, mixing until the dough is smooth. Refrigerate the dough for 2 to 3 hours or overnight.
Preheat the oven to 375. Line cookie sheets with parchment paper.
Transfer the dough to a floured work surface and roll to 1/4 inch thick. This dough is fairly soft, so put a piece of plastic wrap over it while you roll it out. Cut out shapes with your favorite cutters and put on cookie sheets.
Bake the cookies for 8 minutes, until set and just slightly colored around the edges. Remove from the oven, let them cool on sheet for 2 minutes to firm up, then transfer to a rack to cool.