[albee1952]

Here are several reasons that latency exists, and some solutions:
1-Converter latency. This happens with all DAW's and is caused by the time it takes for A>D and D>A conversion. This ranges from just over 1ms at 44.1K and usually gets shorter with higher sample rates.
2-Playback buffer setting. This happens in all DAW's and is the amount of time(in samples) you allow for the computer to take in audio, process it and send it back out to analog. Lower settings give lower latency, but require more computer power. If your computer can't handle tracking at a 64 buffer setting, then you should try to find ways of getting more power(a better computer), or free up power by using fewer plugins, or different plugins that require less power. An example of this might be the KeyScape pianos. Their C7 grand piano drags my computer down so I cannot record with that plugin. My solution is to use MiniGrand while recording and editing midi. Once recording and midi editing are done, I remove MiniGrand, load up KeyScape and use Track Commit to print the piano as audio. Then I can make the instrument track inactive, which gives me back all the power that KeyScape was using.
3-Plugin latency(which can range from 0 samples, all the way up to several thousand samples, depending on which plugin). Plugin latency* is compensated for by the DAW(any DAW) making everything later to match the track with the most accumulated latency(*, remember that plugins on the Master Track are NOT compensated for). Best solution is to not use high-latency plugins while recording(setting the MIX window view to show Delay Compensation is the only way to know what is happening here). An example: I love using Waves JJP signature plugins, but they all have around 630 samples of latency. The solution is to keep those plugins inactive while recording, then activate them for mixing. Remember, Bypass is not the same as inactive(Bypass will still have the same latency as non-bypassed).
4-a send (on a record-enabled track) that has no destination will cause almost 2000 samples of erroneous delay compensation. Solution: delete the send(with no destination, it is not affecting the sound in any way).