In a large bowl, whisk the flour, baking soda, baking powder and salt until well combined. And set aside.
In a separate medium bowl, beat together the butter, cream cheese, and sugar until light and fluffy.
Add the egg and the vanilla and beat to completely combine.
Add the flour mixture to the wet ingredients and mix until a thick dough forms.
After the dough is formed, separate it into two balls then flatten the balls into disks. Wrap each dough disk in plastic wrap and place in the refrigerator to chill for at least one hour.
When you are ready to bake these heart cookies, preheat your oven to 375° F and line a baking sheet with parchment paper. Remove the chilled dough from the refrigerator and unwrap.
Roll out the dough on a lightly pastry mat or any floured surface until it’s around ⅛ inch thick. Use a 3-inch rectangle cookie cutter to cut out 48 cookies. Use all the dough by combining all the scraps after cutting and re-roll the dough and continue to cut until all the cookies have been cut.
Place half the rectangle cookies on the parchment paper lined baking sheet, then use a 1-inch heart cookie cutter to cut out the center of the remaining rectangles. Set the hearts aside to bake separately.
Place the cookies in the preheated oven and bake for 8 to 10 minutes, until the edges are golden brown. Allow the cookies to cool on the baking sheet for five minutes, then transfer to a wire cooling rack to cool completely. Continue until all the cookies are baked.