In a large bowl, use a stand mixer or hand mixer to beat the softened butter and granulated sugar together on medium speed until light and fluffy, about 3-4 minutes.

Add the egg, vanilla extract, and almond extract. Beat until well combined, scraping down the sides of the bowl as needed.

In a separate bowl, whisk together the all-purpose flour, baking powder, and salt.

With the mixer on low, gradually add the dry ingredients to the wet ingredients. Mix until just combined. Do not overmix.

Divide the dough in half, flatten each half into a 1-inch thick disk, and wrap tightly in plastic wrap. Refrigerate for at least 1-2 hours, or until firm.

Preheat your oven to 350°F (177°C). Line baking sheets with parchment paper.

On a lightly floured surface, roll one disk of dough to 1/4-inch thickness. Use your favorite cookie cutters to cut out shapes and carefully place them on the prepared baking sheets, about 1-2 inches apart.

Bake for 10-12 minutes, or until the edges are lightly golden. Let the cookies cool on the baking sheet for 5 minutes before transferring them to a wire rack to cool completely.

In a medium bowl, whisk together the sifted powdered sugar, milk, corn syrup, and vanilla extract until smooth.

Adjust Consistency: If the icing is too thick, add more milk, one teaspoon at a time. If it's too thin, add more powdered sugar. For outlining, you want a thicker consistency. For "flooding" or filling in, you want a thinner consistency.

Divide the icing into separate bowls and add gel food coloring as desired. Transfer to piping bags and decorate your completely cooled cookies. Let the icing set completely before storing.