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H1B, H4 Visa

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Can we file H1b extension and H4 visa initiation parallelly?
Hi,

I am on H1B visa and my visa is getting expired soon (on 30th Sept 2014). At the same time, we want to file H4 visa for my wife. I am worried because I am not sure which process should I start first or can I start both process in parallel.
According to my understanding,
1. In case if I file h4 visa first she will get expiry till 30th sept 2014 only.
2. In case if We file for H1B extension first, it might take more time and due to which I cannt file H4 visa soon and my spouse's travel will get delayed.

Please can any one advise on this or share your experience.

Thanks in advance!!!
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