In a medium bowl, whisk to combine the flour, baking powder, baking soda, and salt together in a medium bowl. 

In the bowl of an electric mixer fitted with the paddle attachment or using a large bowl and hand held mixer, beat the butter and sugar on high speed until smooth and creamy, about 2 minutes. Scrape down the sides of the bowl. Add the egg followed by the egg yolk, vanilla and almond extracts. Beat on high speed until combined, about 1 minute. Scrape down the sides and up the bottom of the bowl and beat again as needed to combine.

Turn the mixer to low and alternatively add the dry ingredients to the wet ingredients.  Mix on low until combined. 

Divide the dough in half. Roll out each half on baking sheets lined with parchment paper lightly sprinkled with flour. Roll the dough in any shape to about 1/4-inch thick. 

Cover each baking sheet with plastic wrap and place them in the fridge to chill for 2 hours. Once chilled, preheat oven to 350 F. take the dough out of the fridge. Lift the parchment paper off the tray and onto the counter. Carefully run a long knife carefully between the parchment paper and the cookie dough. Use cookie cutters to cut out the cookies. Place the cookies 2 1/2 inches apart on parchment paper lined baking sheet. Re roll dough and cut out cookies, using up all the dough. 

 Arrange cookies on baking sheets 2 inches apart. Bake for 8-11 minutes or until light golden brown around the edges. Transfer cookies to a wire rack. Allow cookies to cool completely before frosting.

Beat the butter and vanilla until it’s creamy. With the mixer on low, gradually add the powdered sugar followed by the milk, vanilla and salt. Turn the speed up to medium and beat until smooth and fluffy.