Preheat oven to 350 degrees. Line two large baking sheets with parchment paper.
With an electric mixer, cream together the butter and sugar until light and fluffy. Mix in the eggs, vanilla and almond extract.
Add the baking powder and salt and mix to combine. Gradually add the flour, mixing until thoroughly combined.
Roll 1/4 cup of dough into a ball and place on the prepared baking sheets, at least 2 inches apart.
Dip the bottom of a drinking glass in sugar and flatten the cookie to about 1/2 inch thickness. The sides of the dough should squish out around the bottom of the glass to form an edge. Repeat with remaining dough, placing 6-8 cookies per baking sheet.
Bake for 8-10 minutes, or until cookies are just set and starting to brown on the bottom. Do not overbake. Transfer to a wire rack to cool completely.
Meanwhile, make the frosting: Beat the butter with an electric mixer until light and fluffy. Mix in the almond extract and salt.
Add the powdered sugar, 1 cup at a time, and beat until smooth. Add milk 1 tablespoon at a time until frosting reaches desired consistency. Color with pink food coloring, if desired.
Store in an airtight container in the refrigerator. Serve chilled.