I have done a few and was satisfied with the results. I don't remember where i got the info on how to do this but probably TBM or one of the Trad Bowyers Bible books.
You need a longish flat and straight board about two or three inches wide and about 1/2 or more inches thick. Along the center of this board you need to cut a groove about 1/4 inch deep that and is "V" shaped or said another way, with a 45 deg angle on each side.
I drive a small finishing nail into the center of the groove and below the plane of the boards surface near one end. I'll "splain that later in this post.
Next, you need a small hand plane that is very sharp. Next, draw two circles around the shaft with a pencil. The location of the circles will depend on how long you want your taper to be.
Next, lay your shaft in the groove. Your plane should be set to barely take a shaving from the shaft. Lay your plane on the shaft so that the front edge of the plane is at the first circle on the shaft (the one closest to the end). Your shaft should be butted up against that finishing nail to keep it from slididng in the groove as you plane the shaft. With the plane positioned as above, take a cut all the way to the end of the shaft. Each time you take a cut, rotate the shaft just a hair. When you have shaved away the circle, you have been all the way around the shaft with the plane. Then go to the next circle and repeat cutting all the way to the end of the shaft.
It should be apparent by now that the location of the pencil cirlcles on the shaft depend on how long you want your taper to be and the distance between the fron edge of the plane and the cutting edge of the plane. The reason for setting the front edge of the plane on the circle is so you can see that you are starting your cut from the same position on the shaft each time.
You can use the same jig to plane parralel shafts from square stock too by taking it down a bit at a time until you have a shaft with sixteen sides to it and then sand.
If you do sand your shafts or tapers, be sure to use a pair of V blocks with very fine sandpaper to run up and down the shaft. If you just put a piece of sandpaper in your hand and sand it, the softer spots in the grain will sand deeper than the harder spots and you will end up with a wavy sanding job.
This is probably clear as mud, so if anything needs clarifying let me know