Preheat oven to 350 degrees F (175 degrees C). Lightly grease a medium cookie sheet.
Cream butter or margarine, brown sugar and sugar in a large mixer bowl until light and fluffy. Add egg and vanilla; beat well. In a separate bowl, combine flour, baking soda, baking powder and salt; add alternately with buttermilk to creamed mixture. Beat well. Stir in chips. Drop by rounded teaspoons onto the prepared cookie sheet.
Bake for 10-12 minutes in the preheated oven, or until lightly browned. Remove from cookie sheet and cool.
