In the bowl of a stand mixer, cream butter and sugar together. Stir in egg, vanilla and molasses. Scrape the sides and mix again until mixture is uniform.
In a separate bowl, whisk remaining dry ingredients together. Slowly incorporate to the butter sugar mixture and stir on low until just combined. Scrape the sides, especially the bottom of the bowl and mix again to ensure an even dough.
Form dough into large disc, wrap in plastic wrap and refrigerate 2 hours to overnight.
Preheat oven to 350 degrees. Roll chilled dough out onto floured board to be 1/3rd of an inch thick. Cut different shapes using cookie cutters and place onto parchment paper lined baking sheets.
Bake 7-8 minutes or until lightly puffed without the edges getting dark. Cool 3 minutes on baking sheet before transferring to cooling rack.
Decorate with royal icing or anything else you desire. Store in air tight containers for up to four days.