H1 transfer and H4 extension for same person


I am currently on H4 visa expiring on July 2014. I already have a previously approved h1b. I just received a new job offer and am waiting for the visa transfer which would happen only by April. Meanwhile the H4 extension processing has already started at the attorneys. Would it be ok to do the H4 extension and H1b transfer at the same time? Any help in this matter would be greatly appreciated.

Thank you!

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