Soften the cream cheese and butter at room temperature. You can also microwave the cream cheese for 15 seconds at a time until soft.
Beat the butter, cream cheese, and sugar with a mixer until the sugar granules have completely dissolved. The mixture should be pale and fluffy.
Mix in the egg, vanilla extract, and almond extract. Add any optional flavoring now.
Sift in the all purpose flour, cake flour, baking powder, and salt. Mix until just combined.
Divide the dough in half. Place each half between two sheets of parchment paper and roll it ¼ to ⅓ inch thick. Don't roll thinner than ¼ inch, or the cookies won't be as soft.
Chill the rolled dough flat in the fridge for 15 to 20 minutes, until firm. Preheat the oven to 350°F.
Cut out shapes from the cookie dough. Dip the cookie cutters in flour before each press so the dough doesn't stick.
Bake for 8 to 9 minutes, until the cookies are pale with a smooth, flat surface.
Let the cookies cool completely before decorating.