In the bowl of a stand mixer, with the paddle attachment affixed, beat the butter on medium-high speed until smooth and creamy. Turn the speed down to low and add the powdered sugar, salt, nutmeg and vanilla bean paste. Beat on medium-high speed until well combined, scraping down the sides of the bowl as necessary. Turn the mixer speed back to low and slowly add the flour, mixing until combined. Option at this point to add food coloring and sprinkles, if so desired.

Place a long piece of plastic wrap on the counter and dump the cookie dough on top of the plastic wrap. If you are going to slice and bake the cookies instead of cutting them out, then cover the dough completely in the plastic wrap and work the dough into a long tube shape (like refrigerated cookie dough). If cutting out cookies, then flatten the cookie dough into a long, thin rectangle/square, which will help with rolling it out after it chills.

Chill dough for at least 30-minutes in the refrigerator.

Preheat oven to 350-degrees. Line two baking sheets with parchment paper. For slice and bake cookies: with a sharp knife, slice the cookie dough into slices, approximately 1/4-inch thick. Lay cut cookies out onto prepared baking sheet. For cut out cookies: sprinkle flour or powdered sugar down on a non-stick surface and use a rolling pin to roll cookie dough out into 1/4-inch thickness. Use cookie cutters to cut into desired shapes. Place cut cookies on prepared cookie sheets. Bake for 15-18 minutes or until golden brown around the edges. Baking time will depend on the size and thickness of your cookies.

After cookies are done baking, remove from oven and let set on the cookie sheet for 10-minutes before transferring to a wire rack to finish cooling.