Sometimes you search something on google, and the most trivial answers do not show up. So I figured as a self reminder, I’ll post this here.

Does your background turn to a red tint when you add text to a GIF image saved as a PSD?
Well, do this to fix:

Open the .GIF in Photoshop. Covert the image to RGB (Image > Mode > RGB). Gifs are Indexed color and need to be converted to RGB. You’ll then be able to add layers and edit…then save as .PSD. or whatever format you choose.