Step 1: Preheat your oven to 325°F (165°C) and generously grease and flour a 10-inch Bundt pan or tube pan.
Step 2: In a large bowl or stand mixer, cream together the softened butter and cream cheese until smooth and well combined.
Step 3: Gradually add the granulated sugar and beat on medium-high speed for 5-7 minutes until the mixture is light, pale, and fluffy.
Step 4: Add the eggs one at a time, beating well after each addition and scraping down the sides of the bowl to ensure even mixing.
Step 5: Stir in the vanilla and almond extracts.
Step 6: On low speed, gradually add the sifted flour and salt, mixing just until the flour is incorporated. Do not overmix.
Step 7: Pour the batter into the prepared pan and smooth the top with a spatula.
Step 8: Bake for 1 hour and 15 minutes to 1 hour and 25 minutes, or until a long wooden skewer inserted into the center comes out clean.
Step 9: Allow the cake to cool in the pan for 15-20 minutes before carefully inverting it onto a wire rack to cool completely.