In large bowl with electric mixer at medium speed, beat butter, sugar, egg and vanilla until light and fluffy. Reduce speed to low; gradually beat in flour until just blended. If dough is too stiff, beat in 1 to 2 tablespoons water. Shape dough into ball; wrap in plastic wrap; refrigerate at least 1 hour or up to 24 hours. Shape and bake as directed in individual recipes below.