In addition to potential issues with either buffers being too low, or with possibly using on-board sound instead of an actual audio interface, or with ASIO Buffer Size settings and such, it is also possible to cause latency problems by loading plugins that are meant to used during mixing into the project while still recording.
Such plugins include those that either require lots of CPU, or do what's called 'look-ahead' processing. Some of the plugins that routinely are problematic during recording are: Perfect Space or Boost 11. (There are others too).
So, as noted in the other reply, please elaborate on your setup and settings a bit more, so we can help you figure out what is causing your problems. Please respond with the info already requested, as well as what effects are loaded into the project.
Thanks,
Bob Bone