Preheat the oven to 375°F (190°C). Line two baking sheets with parchment paper.
In a medium bowl, whisk together the sifted flour, baking soda, baking powder, and salt. Set aside.
In a large bowl, using an electric mixer, beat the softened butter and 1 1/2 cups granulated sugar together on medium speed until light and fluffy, about 3 to 4 minutes.
Add the egg, vanilla extract, and almond extract to the butter mixture and beat until combined.
Gradually add the dry ingredients to the wet ingredients, alternating with the milk, beginning and ending with the dry ingredients. Mix until just combined. Do not overmix.
Divide the dough in half and shape each half into a disk. Wrap each disk in plastic wrap and refrigerate for at least 1 hour until firm.
On a lightly floured surface, roll out one disk of dough to about 1/8-inch thickness.
Dip cookie cutters into granulated sugar, then cut out shapes from the rolled dough. Place the cookies 1 inch apart on the prepared baking sheets.
Sprinkle additional granulated sugar lightly over the tops of the cookies for extra crispness and sparkle.
Bake in the preheated oven for 10 to 12 minutes or until the edges are golden brown and the centers are set.
Remove from the oven and allow the cookies to cool on the baking sheet for 5 minutes before transferring them to a wire rack to cool completely.
Repeat the rolling, cutting, and baking process with the remaining dough.