In a mixing bowl, cream together butter and sugar until light and fluffy, about 3-4 minutes. Add eggs, vanilla, and almond extract, blending until combined.

In a separate bowl, whisk together flour, baking powder, and salt. Gradually incorporate the dry mixture into the creamed butter mixture.

Cover the dough tightly with plastic wrap and refrigerate for about 30 minutes.

Scoop tablespoon-sized portions and roll into small balls. Create a dent in the center and fill with peach preserves, reshaping the dough around it.

Preheat the oven to 350°F (175°C). Roll each cookie in a mixture of cinnamon and sugar before placing on a prepared baking sheet.

Bake for 12-15 minutes or until lightly golden on the bottom. Cool on the baking sheet for 5 minutes before transferring to a wire rack.