1. Prepare the Crust:

1. Preheat oven to 375 degrees F (190 degrees C). In a small bowl, whisk together the flour, baking soda, and baking powder. Set aside.
2. In a large bowl, cream together the butter and sugar until smooth. Beat in the egg, vanilla extract, and almond extract. Gradually blend in the dry ingredients.
3. Divide the dough into three portions. Leave one portion plain. Tint the second portion red and the third portion green with gel food coloring. Wrap each portion in plastic wrap and chill for at least one hour.
4. On a lightly floured surface, roll out the dough to 1/4-inch thickness. Use a square cookie cutter to cut out shapes. Place cookies 1 inch apart on ungreased cookie sheets.
5. Bake for 8 to 10 minutes, or until edges are just golden. Let cool on the baking sheet for 5 minutes before transferring to a wire rack to cool completely.
6. Once cool, frost the top of each cookie with a thin layer of vanilla frosting. Use a piping bag with a thin tip to pipe red and green ‘ribbons’ and ‘bows’ on top of the frosted cookies to look like wrapped presents. Add sprinkles for extra sparkle.