Merge Visible In New Layer

If you hold Alt (Windows) or Option (macOS) while selecting “Merge Visible” in the Layer menu (or in the Layers panel flyout menu), you will merge the visible layers onto a new layer; leaving the original layers intact.

You could also press Ctrl Alt Shift E (Windows) or Command Option Shift E (macOS) to get the same result.

For more tips and tutorials, subscribe to Photoshop Training Channel on YouTube!