Preheat oven to 350F.
In the bowl of a stand mixer, cream together the butter and sugar until light and fluffy.
Add the cream cheese, egg and extracts, and beat together until mixed, scraping down the sides of the bowl occasionally.
Sprinkle the salt, baking powder and baking soda over top and stir in.
Mix in the flour until just combined.
Line two baking sheets with parchment paper and pour the sprinkles into a bowl. Scoop up a ball of dough (approximately 2 tablespoons of dough) and roll between your hands into a 1½"-2" ball. Roll the ball of cookie dough in the sprinkles to coat, then place on baking sheet.
Repeat with the remaining dough, spacing cookie balls approximately 2" apart. Use a glass to flatten the cookies until they are ½" tall.
Bake in preheated oven for approximately 10 minutes. Remove from oven and let cool on the sheet. Store in an airtight container.