Do I combine 2 Formulas?

Hello,
I have most of my formula but I can not figure out how to do the last part.
here is what I need (60-A1)*0.00055 so I have that set up under =SUM((60-A1)*0.00055)
Now I would like to add if A1 is less than 60 add 1 or greater than 60 minus 1. Then after Multiply B1