Preheat oven to 350 degrees. Grease and flour a 10-inch tube pan.
Sift together dry ingredients including flour, baking, powder, baking soda and salt. Set aside.
In the bowl of stand mixer fitted with a paddle attachment or a large mixing bowl with an electric and mixer, beat butter until light and fluffy. Add sugar, beating well again.
Add eggs, one at a time, until incorporated. Add vanilla, blending again.
Alternate adding buttermilk and dry ingredients until just mixed.
Transfer to tube pan.
Bake for 55-75 minutes, or when the top is lightly browned and it passes the toothpick test.
Remove and allow to cool for 5 minutes before inverting onto a wire cooling rack set over a baking sheet, parchment paper or aluminum foil to catch drips.
While cake is cooling, make butter sauce by mixing butter, sugar, almond extract and water in a small saucepan over medium heat. Whisk until sugar has dissolved. Remove from heat.
Pierce cake liberally with a toothpick. Spoon 1/4 of sauce over the top of the cake. Wait a few minutes and then baste sauce on the sides, down the center and over the top. Wait for it to dry again and do this one more time. It will start to form a glaze.
Store covered at room temperature until ready to serve.
If you've tried this recipe, come back and let us know how it was in the comments or ratings!