In a large bowl, whisk together the all-purpose flour, baking powder, and salt until well combined. Set this mixture aside.

In a separate large bowl, use an electric mixer to cream the softened butter and granulated sugar together until light, fluffy, and pale in color.

Beat in the eggs one at a time, ensuring each is fully incorporated before adding the next. Mix in the vanilla and almond extracts until evenly combined.

Gradually add the flour mixture to the butter mixture, mixing on low speed just until a soft dough forms. Do not overmix.

Split the dough into two equal portions. Place each portion on lightly floured parchment paper or silicone mats. Roll each out evenly to about ¼-inch thickness, dusting more flour as needed to prevent sticking.

Lightly dust the top of the rolled dough with flour, cover it with plastic wrap, and refrigerate for at least 1-2 hours or overnight.

Preheat your oven to 375°F (190°C). Line 2-3 large baking sheets with parchment paper or silicone mats.

Remove one dough portion from the refrigerator at a time. Use cookie cutters to cut shapes out of the dough and arrange them 2-3 inches apart on the prepared baking sheets. Chill the cut-out dough on the baking sheets in the fridge or freezer for at least 10 minutes before baking to prevent spreading.

Bake the cookies for 8-10 minutes until the edges are just starting to turn golden but centers still look slightly soft. Remove from the oven.

Allow the cookies to cool on the baking sheets for 5 minutes, then transfer them to a wire rack to cool completely before decorating.

In a medium bowl, combine sifted powdered sugar, 2 tablespoons of milk, light corn syrup, and vanilla extract. Stir until smooth. Adjust consistency with additional milk or powdered sugar as needed. Add gel food coloring if desired.

Spread or pipe icing onto cooled cookies. Let the icing set and firm up for a few hours before packaging or serving.