In a large mixing bowl, combine the egg, oil, sour cream, water, vanilla extract, and almond extract. Mix until smooth.
Add the sifted flour, granulated sugar, baking powder, and baking soda into the wet mixture. Stir gently until just combined.
Pour the batter into cupcake liners in a muffin tin, filling them about two-thirds full.
Bake in a preheated oven at 350 degrees F for about 18–20 minutes. Check if they're done by inserting a toothpick into the center; it should come out clean.
Allow the cupcakes to cool in the tin for a few minutes before transferring them to a wire rack to cool completely.
Prepare your almond buttercream frosting. Once cooled, fill a piping bag fitted with tip 1M and pipe beautiful swirls or rosettes on top of each cupcake.