Preheat your oven to 400 degrees Fahrenheit.
In a large mixing bowl, thoroughly cream together butter, cream cheese, and sugar until light and fluffy.
Add in the egg yolk, vanilla, and almond extract, beating well after each addition.
In a separate bowl, sift together the flour and baking powder.
Gradually add the flour mixture to the creamed mixture, mixing until smooth.
Do not chill the dough! Prepare your cookie press according to its instructions.
Force the dough through the cookie press onto an ungreased cookie sheet.
Bake in the preheated oven at 400 degrees for about 8 minutes.
Once done, let them cool on the baking sheet for a few minutes before transferring to a wire rack.