How to Combine 2 Formulas in one box?

Hello,
I would gladly appreciate any advice on how to finish or redo my formula. I have most of my formula but I can not figure out how to do the last part.
here is what the (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.
Thank you in advanced :)