Grease and flour a Bundt pan or tube pan and set aside.
In bowl of electric mixer using paddle attachment, cream butter and cream cheese together until smooth, about 2 minutes. Slowly add sugar and when all sugar is added, increase speed to medium high and whip for 7 minutes until very light in color and fluffy. Scrape down sides of bowl.
On low speed, add eggs, one at a time, beating for one minute after each addition. Once all eggs have been added, scrape down sides of bowl and increase speed to about medium and whip for about 2 minutes.
With mixer on low, slowly add flour into butter/egg mixture. Add extracts at the end. Don't overmix. Remove bowl from mixer and use a spatula to fold in any remaining flour that didn't get distributed.
Bake at 300℉ for 1½ to 2 hours. Start checking at about the 1½ hour mark by inserting a long wooden skewer in the middle of the cake and if it still feels wet when removed, it needs to bake longer. After that, keep checking at 10-minute intervals.
Remove cake from oven when skewer comes out with just a few crumbs attached to it. Set cake in pan on wire rack to cool for at least an hour. Then loosen it with a butter knife from the edges. Put a cake plate on top of the cake pan and holding both, flip it over so that the cake comes out of the cake pan onto the plate.
Allow to cool completely and serve at room temperature.
Notes
To serve with berries and cream, remove stems from a small container of strawberries and quarter. Sprinkle 2 tablespoon sugar over strawberries in bowl and stir to combine. Allow to sit and macerate for at least one hour. Stir again. Whip about 2 cups heavy cream in bowl of stand mixer until soft peaks begin to form. Slowly add ¼ cup powdered sugar and 2 teaspoon vanilla extract, or the seeds from a vanilla bean, and whip to stiff peaks. Spoon berries and sauce over pound cake and top with a dollop of whipped cream. Enjoy!!Cake will keep at room temperature, well covered, for 5-6 days. It may also be frozen in slices (or as a whole), well wrapped, for 3 months. I would not recommend refrigerating the cake as it will dry out.