1.With an electric or stand mixer blend butter, Nutella, sugar, and cream cheese. Once they are well blended add in your extracts and your egg and beat until combined.
2.Add in your baking powder, baking soda and salt. Add in your flour a little at a time beating in between additions until the flour is all incorporated.
3.Mold your dough into a cylinder shape and wrap it with plastic wrap or wax paper.
4. Refrigerate for at least an hour. You can leave it overnight too if you want to make your dough a day ahead.
5. Preheat your oven to 375. Slice your dough and place it on cookie sheets about 2 inches apart (they do grow a little) and bake for about 10 minutes or until the center is set.
6.Let them cool a couple of minutes on the cookie sheet before moving to cooling racks to cool completely.