Preheat oven to 350 degrees Fahrenheit (175 degrees Celsius) and line cookie sheets with parchment paper.

In a medium bowl, whisk together the flour and baking powder until well combined. Set aside.

In a large mixing bowl, cream together the butter and sugar until light and fluffy.

Add the egg, vanilla bean paste, and almond extract to the creamed mixture. Beat until well combined.

Gradually add the flour mixture to the wet ingredients in three additions, mixing on low speed until just combined. Be careful not to overmix.

Turn the dough out onto a lightly floured surface and roll it out to a thickness of about 1/4 inch.

Use cookie cutters to cut out desired shapes from the dough.

Carefully transfer the cut-out cookies to the prepared baking sheets.

Place the cookie sheet with the cut-out cookies in the freezer for 5 minutes.

Bake for 8-10 minutes, or until the edges are lightly golden brown. Baking time may vary depending on the size of the cookies.

Transfer the baked cookies to wire racks to cool completely.

Once cooled, decorate the cookies as desired with royal icing or other decorations.