In a medium saucepan over medium heat, melt butter. Continue cooking, stirring frequently, until the butter foams and brown bits form at the bottom. This takes about 5-7 minutes. Watch closely to avoid burning. When the butter reaches a warm amber color and has a nutty aroma, remove it from heat.
Pour the browned butter into a heat-safe bowl. Chill the browned butter in the refrigerator for 1-2 hours, or until completely chilled.
Once the brown butter has chilled completely, remove it from the refrigerator and let it rest at room temperature for about 15 minutes before making the cookies.
Preheat the oven to 350°F (177°C). Line a baking sheet with parchment paper.
To the bowl of a stand mixer with the paddle attachment, add the cooled browned butter and granulated sugar. Mix on medium-high speed for 1-2 minutes, or until light and fluffy.
With the mixer on low, add the egg, vanilla extract, and almond extract. stopping to scrape down the sides of the bowl as needed.
Add the baking powder. Then, add the flour, ½ cup at a time, until the dough comes together.
Put the dough onto a lightly floured surface, rolling it out to about ⅛-¼ inch thick.
Cut the dough into your desired shapes and place the cookies on the prepared baking sheet.
Bake for 6-8 minutes, or until the edges are set, but the centers are still wet.
Let the cookies cool on the baking sheet for a few minutes before transferring to a wire rack to cool completely.