Preheat your oven to 350°F (175°C).
In a bowl, whisk together flour, baking powder, and baking soda.
In another bowl, cream the softened butter and sugar until light and fluffy.
Beat in the egg, vanilla, and almond extracts until combined.
Gradually add the dry ingredients to the wet mixture, mixing just until incorporated.
Divide the dough into two portions and color one batch red and the other pink using food coloring.
Roll out the dough to about 1/4 inch thick on a floured surface.
Use heart-shaped cookie cutters to cut out cookies and place them on baking sheets.
Bake for 10-12 minutes or until the edges are lightly golden.
Let cool completely before decorating with royal icing.