In a large mixing bowl, add butter, cream cheese and mix until smooth and creamy.
Add sugar and beat until mixture is light and fluffy.
Add egg, vanilla extract, almond extract and mix until combined.
In another mixing bowl, whisk together flour and baking powder.
Dump the dry mixture into the wet mixture and mix until just combined.
Chill cookie dough in fridge for 1- 1.5 hours to make it easier to handle.
Scoop out small portions of the dough and roll into balls. The dough is slightly sticky. If you dampen your hands, it makes it easier to roll balls.
Place cookie balls on a baking tray, lined with parchment paper.
Bake at 375 degrees F for about 10-11 minutes or until edges are golden brown but centers are still slightly soft.
Remove from oven and let them cool in the baking tray.
Once they cool completely, sprinkle powdered sugar on top and enjoy.