Preheat oven to 350°F (175°C).

In a mixing bowl, cream softened butter and sugar until fluffy. Add egg, vanilla extract, and almond extract; mix until well combined.

In another bowl, whisk together flour and baking powder. Gradually add to wet ingredients until just incorporated.

Chill dough for at least 30 minutes wrapped in plastic wrap.

Roll out chilled dough on a floured surface to about a quarter-inch thickness. Cut into heart shapes using cookie cutters.

Place cut-out cookies on parchment-lined baking sheets and bake for 8-10 minutes or until edges are lightly golden. Allow cooling before decorating.