Whisk together the flour, baking powder, and salt in a medium bowl, then set aside the dry ingredients.

Cream the softened unsalted butter and granulated sugar together using an electric mixer until light and fluffy, which should take about 2-3 minutes.

Beat in the egg and both vanilla and almond extracts until fully combined, scraping the bowl's sides as necessary.

Gradually mix the dry ingredients into the wet ingredients on low speed until just combined, being careful not to overmix the dough.

Divide the dough in half, flatten each piece into a disc, wrap them securely in plastic wrap, and refrigerate for at least one hour or up to two days.

Once the dough is chilled, preheat your oven to 375°F (190°C) and prepare baking sheets by lining them with parchment paper.

On a lightly floured surface, roll out one dough disc to roughly 1/4 inch thickness, cut shapes with cookie cutters, and carefully transfer them to the prepared baking sheets.

Bake the cookies for 7-9 minutes until the edges are slightly golden and the centers still appear soft, ensuring not to overbake them.

Allow the cookies to cool on the baking sheets for five minutes before moving them to a wire rack to cool completely before icing.

In a medium bowl, whisk together the powdered sugar, milk (or water), vanilla extract, and light corn syrup until the mixture is smooth and without lumps.

Gradually add more milk (or water) by the teaspoon until the icing reaches a "flooding" consistency that smooths itself out when drizzled.

For different colors, divide the icing into separate bowls and incorporate food coloring as desired.

Once the cookies are completely cool, apply the icing using a knife, spatula, or piping bag, then allow the icing to fully set before stacking the cookies.