With a hand mixer or stand mixer, cream butter, maple syrup, and molasses. Beat on medium-high speed for a couple of minutes until light and fluffy. Add the egg yolk and vanilla extract and beat until combined.
Add the dry ingredients to the wet ingredients and mix on low speed until combined. Be careful not to overmix.
Shape the dough into a flat disc and cover with a plastic wrap. Refrigerate for at least 1 hour, or until the dough is firm. When ready to bake, preheat oven to 350°F.
Take the dough out of the fridge and let it sit at room temperature for a few minutes to make it easier to work with.
Place a sheet of parchment paper on your work surface. Lightly sprinkle with a small amount of flour. Place the dough in the center and place a second sheet of parchment paper on top. Gently roll from the center outwards, using light, even pressure and turning the dough occasionally to maintain an even thickness, about 1/4-1/3 inch is ideal.
Use your favorite cookie cutters to cut out shapes and position them closely together on the dough to minimize waste. Peel away the unused dough from around the shapes, and then transfer the entire parchment paper with the cut-out shapes to the cookie sheet.
Bake for 8-10 minutes, until the edges are lightly golden brown. In the meantime, you can re-roll the leftover dough scraps (may need to refrigerate again if too soft) and cut out more shapes. Repeat until you've used up all the dough.
Remove from the oven (they might seem under-baked but they're not!) and cool for several minutes before transferring to a wire rack to cool completely. Enjoy as is or have fun decorating!
Icing
In a bowl or liquid measuring cup, combine all the ingredients. Stir well to combine. If the icing is too thick, add an additional teaspoon of milk one at a time until you reach your desired consistency. If too thin, add more powdered sugar.
Notes
Cut as close together so you will get as many cookies out of your dough as possible.
Peel away the unused dough from around the shapes rather than lifting them from the parchment paper and onto the baking sheet. This prevents the shapes from getting distorted.
You can store both decorated and non-decorated cookies in an airtight container for 3-5 days at room temperature or a week in the refrigerator.