- In a large mixing bowl, cream together the butter, cream cheese, and granulated sugar using an electric mixer until smooth and fluffy. 
- Add almond extract and mix until incorporated. 
- In a separate bowl, whisk together flour, baking powder, and salt. Gradually add the dry mixture to the creamed mixture and blend until just combined. 
- Cover and refrigerate the dough for 1 hour to firm up. 
- Preheat the oven to 350°F (175°C). Line a baking sheet with parchment paper. 
- Shape the chilled dough into 1-inch balls and roll each ball in colored sugar. 
- Place the dough balls 2 inches apart on the prepared baking sheet. 
- Bake for 12-13 minutes, being careful not to overbake. The cookies should remain soft. 
- Immediately press a maraschino cherry into the center of each cookie while still warm. 
- Optional: In a microwave-safe bowl, melt the white chocolate chips in 10-15 second intervals, stirring between each session. Drizzle the melted chocolate over the cookies. 
- Allow the cookies to cool completely and let the chocolate set before storing them in an airtight container.