Preheat oven to 350 degrees. Line cupcake tins with paper cups.
In a medium bowl, sift and combine flour, baking powder, baking soda and salt. Set aside dry ingredients.
In the large bowl of a stand mixer fitted with a paddle attachment, beat the butter and sugar until light and fluffy. Add the eggs, one at a time, beating between each addition, then add the honey, vanilla extract, and almond extract.
With the mixer on low speed, add the flour mixture and the milk, a little at a time, alternating between them and scraping down the sides of the bowl as needed.
Mix until just combined. Using a medium cookie scoop, carefully fill each paper cup with the cupcake batter.
Bake the cupcakes for 20-25 minutes, until the tops are golden-brown and a toothpick inserted in the center comes out clean.
Cool completely on wire rack while you make the buttercream.