Add softened butter, sugar and powdered sugar to a stand mixer or use a hand mixer in a large bowl until soft and fluffy. If you don't have a mixer, you can whisk by hand in a large bowl.
Add in the egg, vanilla and almond extracts, salt and flour until well combined.
Wrap dough in a sheet of plastic wrap and place in the fridge for at least 30 minutes.
Preheat oven to 350 degrees.
Sprinkle flour onto clean counter top and roll dough with a rolling pin to about ¼ to ⅓" thick. Add extra flour in wet areas of the dough as needed to avoid it from sticking to the counter or the rolling pin.
Use cookie cutters of choice to cut out dough. When you're done cutting the cookies, you can roll remaining dough again and repeat to get the most cookies out of the dough.
Place cookies on baking sheet and bake for 10-15 minutes.
Let cookies cool while you make your icing of choice.
Combine royal icing ingredients in stand mixer — meringue powder, powdered sugar and water. Blend on high for 10-12 minutes.
Once icing is mixed, add in food coloring and mix for a minute.
Take a large ziplock bag, cut a small slit in the corner and add an icing tip, if you have one.
Immediately add some of the icing to the plastic ziplock bag. Drape a damp towel over the stand mixer bowl covering any remaining icing to keep it from hardening.
Start decorating the cookies with the royal icing and sprinkles. Once decorated, enjoy the cookies & have a happy holiday!