Line two large cookie sheets with Silpats or parchment.
In a mixer bowl fitted with the paddle attachment, beat butter and sugar together until light and fluffy, about 2 minutes.
Add the egg, vanilla, and almond extract. Beat again until smooth and creamy.
In a separate bowl, whisk together the flour, powdered PB, baking powder, and salt. Add all the dry ingredients to the creamed mixture and stir on low speed until combined, then beat for 30 seconds.
Scoop 1" balls of dough onto the prepared cookie sheets. The cookies will not spread much, so you only need about 1" space between them. Roll into uniform balls.
Roll the balls through colored sugar to coat.
Chill for 20 minutes to help prevent the cookies from spreading in the oven. Meanwhile, unwrap the Hershey kisses and set them aside.
Heat oven to 350°.
Bake cookies for 9-10 minutes.
Immediately after removing cookies from the oven, press a Hershey kiss into the center of each cookie.
Allow to cool for 10 minutes before enjoying!