In a medium size bowl, combine the flour, baking powder, salt, nutmeg and cinnamon. Set aside.
In a stand mixer, beat the butter, cane sugar, and powdered sugar until fluffy.
Add the egg and eggnog and beat again, until fully combined.
Slowly add the dry ingredients in the wet.
Wrap the bowl with plastic wrap and set in the fridge to sit for 2 hours.
Preheat oven to 350 degrees.
After the 2 hours, lightly flour a work surface and let the bowl sit on the counter for about 5 minutes.
Roll out the dough with a rolling pin and use cookie cutters to cut whatever shapes you would like. (I did Christmas trees, stars, snowmen, gloves, gingerbread men, etc.)
Carefully place on a parchment lined baking sheet.
Bake for 7-9 minutes until slightly golden brown.
Complete rolling out the dough, adding flour to the work space if necessary, until all of the dough has been used.
Let the cookies cool completely on a rack.