As of yet there is no public jailbreak for iOS 7.1; however, you can check to see if your device is jailbreakable using the iClarified Jailbreak Wizard.
About a week ago, winocm posted a video demonstrating an untethered jailbreak of iOS 7.1 on a Verizon iPhone 4. iH8Sn0w followed that up two days ago with the confirmation of the jailbreak of the iPhone 4S on iOS 7.1.