In a Large mixing bowl mix your butter and cream cheese together until well combined.
Add sugar; beat until fluffy.
Add egg vanilla, and almond extract and beat well.
In a medium bowl together flour and baking powder.
Combine your wet and dry ingredients and mix them well.
Divide your dough in half, then cover and chill in the refrigerator for about 1.5 hours or until dough is easy to handle.
On a lightly floured surface, roll out your dough to 1/8" thickness.
Cut with desired cookie cutter, and place on cookie sheet
Bake at 375* for 8-10 minutes or until your cookies are done (make sure not to over bake)
Move cookies to wire racks to cool.
Decorate with almond frosting