Heat the oven to 350 degrees. Place paper cupcake liners into a standard muffin tin.
Add the flour, sugar, baking powder, baking soda, and salt to a large bowl. Whisk to combine the ingredients.
Add the milk, vanilla, almond extract (if using), egg, and oil. Use a large spoon or rubber spatula to mix until combined.
Scoop about a 1/4 cup of batter into each cupcake liner. They should be about halfway full.
Bake until the top of the cupcakes are barely golden brown and a toothpick inserted into the center of the largest cupcake comes out clean, about 18 minutes.
Once cool enough to handle, remove the cupcakes from the pan and allow to cool fully before frosting. The cupcakes can be make a day ahead and stored in an airtight container before frosting.
Spread or pipe the frosting onto the cupcakes then decorate with sprinkles or whatever you'd like. Eat them right away or store them in the refrigerator, covered, for up to a day before serving.