In a large bowl, cream the butter, cream cheese and sugar until light and fluffy. Beat in extracts. Gradually add flour. Cover and refrigerate for 30 minutes.
Using a cookie press fitted with the disk of your choice, press dough 2 in. apart onto ungreased baking sheets. Sprinkle with almonds. Bake at 375° for 8-10 minutes or until set. Cool for 1 minute before removing from pans to wire racks. Store in an airtight container. Yield: 3 dozen.