• Allow butter, cream cheese, and egg to reach room temperature.
• In a medium bowl, whisk together flour, cornstarch, baking powder, and salt; set aside.
• In a large bowl, using a hand-held mixer or stand mixer fitted with a paddle attachment, beat the butter and cream cheese on medium speed until completely smooth and creamy (about 3 minutes).
• Add sugar and beat on medium-high speed until light and fluffy, about 2 minutes. Add in the egg, vanilla, and almond extracts and beat on high speed for another minute. Scrape down the sides and bottom of the bowl as needed between additions.
• On low speed, gradually incorporate half of the flour mixture into the wet ingredients until just combined; add the remaining flour mixture and mix until just combined. This cookie dough will be soft and creamy!
• Generously flour your work surface and rolling pin. Divide the dough into two halves and place each on parchment paper sized for your baking pans. Roll each half to a ¼-inch thickness, re-flouring the rolling pin as needed to prevent sticking. Roll out the dough before chilling; this makes the process easier. Stack the pieces with parchment paper between each layer and refrigerate for at least 2 hours or up to overnight. Chilling the dough is essential to help the cookies maintain their shape during baking.
• The next day, preheat the oven to 350°F (175°C). Line 2-3 large baking pans with parchment paper (preferred over silicone baking mats for these cookies).
• Remove one chilled cookie dough piece from the refrigerator. The dough may seem hard but is softer than it appears. Cut into shapes with flour-dipped cookie cutters. Place each cookie about 2 inches apart on prepared baking sheets. Re-roll dough scraps and repeat with the remaining dough.
• For 3-inch cookies, bake for 11-12 minutes until VERY lightly golden around the edges, rotating the baking sheet halfway through the bake time. If using smaller cutters, bake for 7-10 minutes; larger cutters may require 12-13 minutes. Watch your first batch closely to adjust timing. DO NOT OVERBAKE! Cookies should remain around ¼-inch thick and soft.
• Allow cookies to cool on the baking sheet for 5 minutes. Transfer parchment paper with cookies to a cooling rack to cool completely. Once cool, decorate with Bakery Frosting or Easy Royal Icing and sprinkles.

To Make Easy Royal Icing:

• In a stand mixer bowl fitted with a paddle attachment, combine ½ cup room-temperature water and meringue powder. Mix on low to dissolve, about 1-2 minutes.
• Add powdered sugar and mix on low. Add corn syrup as the mixture comes together. Increase mixer speed to medium-high and beat for 5 minutes or until stiff peaks form. Avoid overmixing to prevent crumbly icing.
• Divide the icing and adjust consistency with additional water for outlining, detailing, and flooding. For flood consistency, icing should drizzle and smooth out within 10-15 seconds. Adjust with more water or sifted confectioners' sugar as needed.
• When not using Royal Icing, place a damp paper towel directly on its surface to prevent crusting.
• Decorate completely cooled cookies with piping or frosting, adding optional sprinkles or decorating sugar.
• This icing sets in about 2 hours at room temperature. To speed up drying or create a sheen, use a fan heater on low, box fan, or oscillating fan, allowing 30-45 minutes between layers. For stenciling, ensure the base coat dries overnight before decorating. Allow cookies to dry overnight before storing with parchment paper between layers for best results.