I should have mentioned - I'm in the US.
You don't need to start a company. If it's a legitimate business expense (I'm no tax attorney, so I won't get into whether it is or not), you can deduct some expenses. But if you are using the machine for anything other than business, it's going to be harder.
For example, my wife is a massage therapist. She uses 2 rooms in our house exclusively for massage. She is allowed to deduct the % of square footage of the house used for the business, and that same percentage of the utility bills for the business.
But it's really easy to screw this up and try to take credit for things you aren't supposed to. Consult a tax attorney before taking the advice of anyone here.