In a medium bowl, whisk together the all-purpose flour, baking soda, baking powder, and salt. Set aside.
In a large bowl, using an electric mixer, beat the softened unsalted butter and granulated sugar together on medium speed until light and fluffy, about 3 minutes.
Add the egg, vanilla extract, and almond extract to the butter mixture and beat until combined.
Gradually add the dry flour mixture to the wet ingredients, alternating with the milk, beginning and ending with the flour mixture. Mix until just combined.
Divide the dough in half, flatten each half into a disk, wrap in plastic wrap, and refrigerate for at least 1 hour.
Preheat the oven to 350°F (175°C). Line baking sheets with parchment paper.
On a lightly floured surface, roll out one disk of dough to about 1/8-inch thickness.
Use cookie cutters to cut out shapes and place them about 1 inch apart on the prepared baking sheets.
Lightly sprinkle the tops of the cookies with additional granulated sugar.
Bake for 10 to 12 minutes, or until the edges are golden and the cookies are crisp.
Remove from the oven and allow the cookies to cool on the baking sheets for 5 minutes before transferring them to a wire rack to cool completely.
Repeat the rolling, cutting, and baking process with the remaining dough.