Begin by preheating your oven to 325°F (163°C). Generously grease and flour a Bundt pan, making sure to cover all the crevices to prevent sticking.

In a medium bowl, whisk together the flour, baking powder, baking soda, and salt. Set this mixture aside.

In a large mixing bowl, use an electric mixer to cream the softened butter and sugar together until light and fluffy—this takes about 3 to 5 minutes. Proper creaming is key to the cake’s texture.

Add the eggs one at a time, beating well after each addition. Then stir in the rum (or your extract of choice). Scrape down the sides of the bowl to ensure even mixing.

Add the flour mixture to the batter in three parts, alternating with the buttermilk. Begin and end with the dry ingredients. Mix just until everything is incorporated—don’t overbeat.

Pour the batter into the prepared Bundt pan and smooth the top. Bake in the preheated oven for 55 to 65 minutes, or until a toothpick inserted into the center comes out clean.

While the cake is baking, make the sauce. In a small saucepan, combine the butter, sugar, and water over medium heat. Cook until the butter is melted and the sugar is mostly dissolved, but do not boil. Remove from heat and stir in the almond and vanilla extracts.

When the cake is done, leave it in the pan and poke holes all over it with a skewer or toothpick. Slowly pour the warm butter sauce over the cake while it’s still hot. Allow the cake to soak and cool in the pan for at least 30 minutes before inverting onto a serving plate. Let it cool completely before slicing.