How To Combine Two If Statements

What I want that cell Q4 displays:
1) When the current date is larger than the date in O4 AND is smaller than the date in P4 than say "Update!"
- When the current date is larger dan P4, say "Expired!"

Every other scenario the cell must be blanc.

To do this I have made two seperate formulas:
1) =IF(AND(NOW()>=O4;NOW()P4;"Expired!";"")

How do I combine these into 1 cell? I have tried allmost every combination, I'm ready to throw my monitor through the windows