Preheat the oven to 350 degrees F (175 degrees C).

Beat butter and sugar together in the bowl of a stand mixer fitted with a paddle attachment until smooth. Beat in egg, vanilla, and almond extract.

Combine flour and baking powder in a separate bowl and add to the butter mixture, a little at a time. Stir until well combined. Knead using wet fingers if dough gets too stiff, dusting with flouring occasionally, until it bounces back.

Roll dough out to uniform thinness and cut into desired shapes. Place 2 inches apart onto cookie sheets.

Bake in the preheated oven until edges are golden, about 10 minutes. Cool on the cookie sheets until firm enough to transfer to a cooling rack.

Meanwhile, melt confectioners' coating in the microwave according to manufacturer's instructions. Mix in red candy melts until desired color is reached. Dip cooled cookies in the candy coating and let rest on waxed paper until hardened, about 5 minutes.