Beat sugar and butter at medium speed with a heavy-duty electric stand mixer until creamy and fluffy (about 5 minutes). Add eggs, 1 at a time, beating until yellow disappears after each addition. Beat in vanilla bean paste and almond extract.
Whisk together flour, baking powder, and salt in a small bowl; add to sugar mixture alternately with buttermilk, beginning and ending with flour mixture. Beat at medium-low speed just until blended after each addition. (Batter will be thick.) Use immediately.